Age of householder
Per the latest American Community Survey by the Census Bureau, Lake Lafayette sees its highest median household income among householders in the age group of 45 to 64 years old, at $56,748. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lake Lafayette, where there exist only two delineated age groups, the median household income is $56,748 for householders within the 45 to 64 years age group, compared to $32,157 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $5,262(10.22%), escalating from a median of $51,486 in 2011 to $56,748 in 2021.
- 0 households where the householder is under 25 years old.
- 8(10.96%) households with a householder aged between 25 and 44 years.
- 16(21.92%) households with a householder aged between 45 and 64 years.
- 49(67.12%) households where the householder is over 65 years old.
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Gender
In Lake Lafayette, the population consists of 139 males (60.96%) and 89 females (39.04%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lake Lafayette, while the Census reported a median income of $17,835 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $43,461 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Lake Lafayette, while the Census reported a median income of $17,835 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Lake Lafayette, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $43,461 for females, while data for males was unavailable due to an insufficient number of sample observations.
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Year by year
Lake Lafayette, MO median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lake Lafayette decreased by $15,744 (26.42%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 9,965 (from $33,885 to $43,850). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 11,046 (from $44,388 to $33,342).
- It then further increased to $63,954 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4011, it is evident that income distribution in Lake Lafayette, MO exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $44,464. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,995.
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